Positive markets add to FUM and maintain dividend

Hardman & Co Research on City of London Investment Group (CLIG):

Positive markets add to FUM and maintain dividend

City of London has announced its FUM for 4Q’24 and the full year. It was another positive quarter for the group, with FUM rising 1% from $10.10bn to $10.24bn. Over the financial year, FUM have increased 8.7% and are at their highest level since before the market weakness, in early 2022. Much of the positive effects this quarter were driven by markets: the MSCI Emerging Markets Index rose 4%, although the MSCI All-World ex-US index was flat. Inflows were mixed, with a positive quarter for the International strategy and outflows from Emerging Markets, KIM and Opportunistic Value. Nevertheless, 2H’24 was a great improvement over 1H’24.

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